Membership is becoming an increasingly important facet of organisations in a number of sectors.
We have worked with numerous membership organisations and schemes, from automotive, to professional bodies, to culture.
Ambassador Theatre Group
Natural History Museum
The Muse Membership Model
It considers issues such as:
- Whether the objective of the scheme is revenue maximisation, or member engagement, or something else
- A segmentation of members and potential members
- The financial value members and potential members place on individual benefits
- The optimal price point given the benefits and the number of people included in the membership
- How the membership should be presented, eg should pricing be presented as an annual cost or a monthly cost
For example, it is our experience that from a revenue maximisation persepctive, a number of cultural organisations considerably overprice their membership schemes. In some cases revenue could be more than doubled if price were reduced. Of course, there may be brand image reasons not to do that, but it is good to understand the revenue implications of pricing.
We show below the indexed revenue generated from a particular set of membership benefits at different price points for one of our clients. It can be seen that revenue at a membership cost of £30 is over 400% greater than at £60.
To find out more about our Membership Model you can contact us HERE.